New Year, New Hopes
There is a lot happening in the retail industry in terms of retail experience, technology and expansions. The industry seems to have overcome the bump in its growth trajectory caused by the pandemic and is back on track to achieve its expected growth of USD 1.5 trillion by 2030. The Indian e-commerce industry, on the other hand, is expected to surpass USD 350 billion by 2030, growing at a Compound annual growth rate (CAGR) of 23 per cent.
The threat of the pandemic, and global inflationary pressures notwithstanding, the environment appears conducive to the growth of retail.
A pro-consumption budget and more business-friendly policies will give the desired push to help the retail and allied industries in unlocking their latent potential.
In that sense, 2023 will be a crucial year for retail.
We got talking to some of the leading founders and CEOs from retail brands across India to know their vision for growth in 2023 and the strategies and plans they are putting to work. It was heartening to learn about the kind of work that is being put in various areas of retail.
In this issue, we take a fresh look at retail across sectors and highlight progress made so far, the trends to follow, and insights from key analysts. The issue sets the tone for days to come this year and rightfully establishes the narrative of growth and higher ROI.
We would like to mention that this is a green edition – using Favini Shiro Echo, an environmental paper with 100% recycled fibres – from cover to cover. Shiro Echo paper is CO2 emissions neutralised, and all raw materials are sourced from controlled and certified sources. The official certification is placed at the top of the page.
Happy reading and wish you all a happy and profitable 2023.